Wolters Kluwer Tax & Accounting acquires the assets of BSI, a provider of international tax, legal, business and investment information

September 14, 2012 — Fusion DigiNet

Wolters Kluwer Tax & Accounting has acquired the assets of BSI, a provider of timely international tax, legal, business and investment information. BSI was founded in 1992 with headquarters in Hastings, U.K. The company will remain in the U.K. Terms of the acquisition were not disclosed. BSI will become part of CCH, a Wolters Kluwer business.

“Keeping current with complex and changing tax law is a challenge faced by professionals today across the globe, and with the addition of BSI’s premier content and coverage to CCH and Wolters Kluwer, we’re now uniquely able to help our customers overcome that challenge,” said Wolters Kluwer Tax & Accounting CEO Kevin Robert. “The best just got better. And, we’ll continue to invest in expanding our international corporate tax solutions to help professionals around the world.”

CCH will continue to deliver BSI’s services as distinct offerings under the CCH brand name. CCH also plans to enhance current BSI offerings, creating new products and building out integration between CCH and BSI content. BSI has been a Wolters Kluwer business partner since 2008.

USA, Riverwoods, IL & UK, Hastings, East Sussex

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Aegis to acquire Chinese digital agency, Catch Stone, for initial consideration of £55.2m

July 23, 2012 — Fusion DigiNet

Aegis Group plc is to acquire Beijing Catch Stone Advertising Co., Ltd and the business of Shanghai Catch Stone Culture Media Co., Ltd, an established full service digital media and marketing agency in China, for an initial consideration of RMB 550 million (£55.2 million). Catch Stone will form a separate network brand for Aegis Media in China.

Catch Stone is an established digital agency in China. Its capabilities include digital media planning and buying as well as a range of digital marketing services in areas including creative origination and social media. Catch Stone is a leading media buying agency operating across China with a particular specialism in the automotive and financial services sectors. It has a strong mix of multi-national and local clients in these sectors, including Audi, Nissan, Saic GM Wuling (SGMW), Industrial Bank and Inoherb. Catch Stone was formed in 2002 and now employs over 130 people in Beijing, Shanghai and Guangzhou.

The acquisition is subject to a four year earn-out structure, from 2013 to 2016 inclusive, with further annual consideration payments being made during this period, dependent on the level of future profit growth achieved. The total consideration for the acquisition by 2016 is expected to be around RMB 949.4 million (£95.2 million). If Catch Stone significantly outperforms current forecasts, the total consideration could be higher with a cap on the maximum amount payable of RMB 1.5 billion (£150.4 million). All consideration payments will be satisfied in cash.

The unaudited profit before tax of Catch Stone for the year ended 31 December 2011 was RMB 81 million (£8.1 million) and the value of the gross assets at that time was RMB RMB 375.9 million (£37.7 million).

The RMB: £ exchange rate used in this article is RMB 9.9724: £1.

UK, London & China, Beijing

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Berkery Noyes releases first half 2012 M&A Report for the Media and Marketing Industry

July 18, 2012 — Fusion DigiNet

Berkery Noyes, an independent mid-market investment bank, has released its first half 2012 mergers and acquisitions trend report for the Media and Marketing Industry.

The report analyzes merger and acquisition activity in the Media and Marketing Industry for the first half of 2012 and compares it with activity in the four previous six-month periods from 2010 to 2011.

Total transaction volume increased six percent during the last six months, from 784 transactions in second half 2011 to 834 in first half 2012. Meanwhile, total transaction value increased 27 percent, from $24.88 billion to $31.51 billion. Despite this uptick, median enterprise multiples in the industry decreased. The median revenue multiple fell from 1.8x to 1.2x and the median EBITDA multiple declined from 10.0x to 7.8x. However, three segments had median revenue multiples of at least 2.0x: B2B Publishing, Broadcasting, and Exhibitions, Conferences, and Seminars.

Marketing was the most active industry segment for first half 2012, accounting for 262 transactions and surpassing Internet Media in transaction volume during the last twelve months. Although Internet Media activity declined two percent compared to second half 2011, it remained 19 percent above its second half 2010 levels. In the Marketing segment, 47 percent of deals were Digital Marketing transactions, which represented a 10 percent improvement on a half-to-half year basis. WPP Group was the largest acquirer in the Digital Marketing sub-segment as well as the overall Media and Marketing Industry.

The segment with the largest rise in volume in first half 2012 was Exhibitions, Conferences, and Seminars with an 85 percent increase. The median revenue multiple in the segment also increased 26 percent relative to first half 2011, from 1.9x to 2.4x.

Consumer Publishing M&A rose 13 percent, improving for the third consecutive half year period. The segment was led in first half 2012 by Berkshire Hathaway’s acquisitions of Waco Tribune Herald, The Bryan College Station Eagle, and 63 daily newspapers from Media General. In addition, the B2B segment was responsible for three of the top nine deals by value and underwent a 10 percent increase in transaction volume.

M&A volume in the Entertainment segment increased for the fourth straight half year, growing 24 percent in first half 2012. The largest related transaction in first half 2012 was Lionsgate’s acquisition of Summit Entertainment for $700 million. Video games, a sub-classification of Entertainment, rose 30 percent in first half 2012 and accounted for 62 percent of the segment’s deals. There was also a 50 percent increase in social gaming transactions during the last six months. The most notable social gaming deal by value was GREE International’s announced acquisition of Funzio, a mobile game developer, for $210 million.

“As we predicted in the press release for our first quarter report, there has been an impressive increase in M&A pertaining to social gaming,” said Evan Klein, Managing Director at Berkery Noyes. “Of the many possible means of monetizing social games, enticing users to purchase virtual currency and other rewards continues to be the most lucrative model for generating revenue.”

A copy of the FIRST HALF 2012 MEDIA AND MARKETING INDUSTRY M&A REPORT is available here.

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CRISIL acquires Coalition Development

July 10, 2012 — Fusion DigiNet

The McGraw-Hill Companies, Inc., a division of Standard & Poor’s has acquired Coalition Development, a privately-held U.K. analytics company, and its subsidiaries. Coalition provides high-end analytics to leading global investment banks and other financial services firms. Coalition will be part of CRISIL’s Global Research & Analytics business.

“This acquisition reflects our commitment to helping customers succeed in the knowledge economy and also our strategic focus on high-growth businesses,” said Harold McGraw III, Chairman, President and Chief Executive Officer of McGraw-Hill. “CRISIL is a leading provider of research and analytics services to the world’s top financial institutions and corporations. The acquisition of Coalition will expand CRISIL’s presence in the fast-growing high-end analytical space to reach more global customers and markets. CRISIL already operates in research centers located in Argentina, China, India and Poland.”

Coalition provides high-end analytics, mainly to leading global investment banks. The company was founded in 2002 and is headquartered in the U.K. Coalition deploys unique proprietary analytics and algorithms covering market size, revenue dynamics and human capital. Coalition’s analytics provide a clear, actionable picture of the markets and are used by boards, strategy teams and top management at leading investment banks.

Coalition Development Limited were advised by Osborne Clarke. Mike Turner led the transaction assisted by Thomas Colmer and Mathias Loertscher and Prashant Mara and Ranjini Ghose of OC’s India desk.  Sheppard Mullin Richter & Hampton LLP, led by Linda Giunta Michaelson, provided US assistance.

UK, London and India, Mumbai

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A Fusion Deal: Econsultancy sold to Centaur

July 10, 2012 — Fusion DigiNet

Fusion Corporate Partners are pleased to announce our latest deal, the sale of Econsultancy.com Limited to business information and events group Centaur Media plc.

Econsultancy is a leading digital and events-led information provider to the global digital marketing and e-commerce community in the UK, with a growing presence in the USA, Middle East, Asia and Australia. Econsultancy’s revenues stem from subscriptions, events, training, professional qualifications and media. The company has approximately 110,000 registered users and approximately 5,000 subscribers.

Centaur are paying an initial consideration of £12m in cash, with deferred consideration of up to £38m due in 2016, based on EBITDA performance for the year ending December 2015.

Econsultancy was founded in 1999. In the financial year to 31 December 2011, Econsultancy reported revenues of £6.6m (representing an increase of 50 per cent. on the prior period) and adjusted EBITDA of £1.1m. Econsultancy’s CEO and key executives will remain with the business following the acquisition

The acquisition is a key part of the strategy to transform the Centaur Group into a predominantly digital and events-led business. The deal complements Centaur’s market-leading publications, events and digital services in the marketing, design and creative sectors.

Geoff Wilmot, Centaur Chief Executive, said, “The earnings enhancing acquisition of Econsultancy provides us with an exciting opportunity to acquire a leading information brand in a high growth sector with global potential which fits well with Centaur products including Marketing Week and New Media Age. Econsultancy is highly complementary with Centaur and gives us a prominent position in the rapidly growing digital marketing sector with the opportunity to scale internationally. We see considerable potential for collaborative growth through leveraging our existing position in marketing and the development of high value, paid-for information services.”

Paul Slight, Director at Fusion, said, “We were delighted to work with the team at Econsultancy. The company has become the leading source of independent advice and insight on digital marketing and ecommerce. It will be an excellent fit with Centaur products.”

UK, London

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OTHER FUSION DEALS:

Media and Information

Business Services
Events, Broadcast and Other deals
Posted in B2B Services, Conference/Exhibitions/Events, Consultancy, Content Media, Fusion Deal, Internet Media, Marketing/Advertising, Publishers, Research Reports, Training/Education, ~Europe. Tags: , , , . Leave a Comment »

WPP to acquire AKQA

June 20, 2012 — Fusion DigiNet

WPP is to acquire the assets of digital agency AKQA Holdings, Inc.

Founded in 2001, AKQA provides integrated digital communications campaigns, spanning social media, mobile, interactive experiences, gaming and content creation.  Clients include Delta, Diageo, EDF, GAP, Google, Microsoft Xbox, Nike, Target, Unilever and Virgin Money, among many others.

International recognition for its creative excellence has earned the agency numerous industry awards, including 19 Agency of the Year titles.  Last year, AKQA won Digital Agency of the Year honours in both the US (Adweek) and the UK (Campaign) and collected five Cannes Lions.

Currently employing 1160 people worldwide – from software engineers and technologists to creatives and strategists – the agency operates through offices in the US (San Francisco, New York, Washington DC), Europe (London, Paris, Amsterdam, Berlin) and Asia (Shanghai). The agency had gross assets of $282 million as at 31 December 2011 and forecasts revenues of around $230 million in 2012, having achieved $189 million in 2011.

AKQA will continue to operate as an independent and stand-alone brand within WPP and be led by founder and CEO Ajaz Ahmed and Chairman Tom Bedecarré.  Tom Bedecarré will also become President of WPP Ventures, a new Silicon Valley-based company, which will explore new digital investment opportunities for WPP as a whole.

Commenting on the arrival of AKQA, Sir Martin Sorrell, CEO, WPP said:  “We are thrilled to welcome AKQA’s unique team of technological innovators and entrepreneurs to WPP.  We have admired their creativity and technological skills for a long time along with their outstandingly effective and award-winning work for clients. We are looking forward to working with Ajaz and Tom to broaden their offer and our own, both geographically and functionally.  We are delighted to be united!”

UK, London & USA, San Francisco, CA

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Thomson Reuters acquires Apsmart

June 14, 2012 — Fusion DigiNet

Thomson Reuters has acquired Apsmart, a London-based mobile platform and product development firm that was majority owned by DN Capital. Terms of the agreement were not disclosed. The Apsmart acquisition will improve Thomson Reuters ability to provide customers with mobile solutions that drive a competitive differentiation in the marketplace.

Mobile is an increasingly significant way in which professionals work and consume information. The acquisition of Apsmart will enhance Thomson Reuters mobile product creation, design and development, allowing the company to deliver even more expert-enriched content, news and solutions through the interfaces that professionals want on the mobile devices they use.

Founded in 2009 by DN Capital and Rahul Powar, creator of the first Shazam iPhone application, Apsmart is at the cutting edge of mobile build and design. The team is well known for creating connected, data-driven applications for iOS and Android devices.

“This new team brings strong experience in end–to–end mobile development capabilities from user experience and design through to product realization and platform services,” said Robert Schukai, global head of mobile technology at Thomson Reuters. “As we move forward, we will have a greater ability to develop foundational mobile capabilities that build significant brand value in our mobile product portfolio.”

“The team at Apsmart is excited about the opportunity to apply our diverse mix of skills to the large Thomson Reuters customer base. We look forward to helping drive the strategy and creation of significant new experiences in mobile across the organization,” said Rahul Powar, new head of mobile application development at Thomson Reuters.

The addition of the Apsmart team will build upon the success of the advanced suite of Thomson Reuters mobile offerings which include Thomson Reuters WestlawNext and Thomson Reuters ProView eReader.

USA, New York, NY & UK, London

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MITIE acquires Norwegian facilities management business

June 8, 2012 — Fusion DigiNet

MITIE Group PLC, the strategic outsourcing and energy services company, has acquired the facilities management business of Dalkia Energy & Technical Services AS  in Norway.

MITIE has acquired the FM contracts and the majority of the employees of Dalkia FM for a total maximum cash consideration of NOK 10m (£1.06m) subject to certain conditions being satisfied over the period to 7 September 2012. Dalkia FM reported revenues of NOK 27.7m in the year ended 31 December 2011.

Ruby McGregor-Smith CBE, Chief Executive, MITIE Group PLC, commenting on the transaction, said, “This is a further step in our strategy to develop MITIE’s ability to support our clients overseas.  We are delighted to welcome the employees to MITIE.”

UK, Bristol & Norway, Oslo

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Project: WorldWide acquires social marketing firm Affinitive

June 6, 2012 — Fusion DigiNet
Project: WorldWide has acquiredAffinitive, a word-of-mouth and social media agency and Facebook Preferred Marketing Developer (PMD) that handles consumer assignments for brands such as Random House, E.&J. Gallo Winery, Major League Soccer and Ubisoft. Financial terms were not disclosed.

Founded in 2002 and headquartered in New York City, Affinitive provides social business solutions combining innovative consumer engagement strategies with proprietary technology, real-time monitoring and integration with clients’ existing enterprise systems to create a seamless platform for creating and executing integrated brand programs.

Over the course of a decade and more than 200 campaigns, Affinitive has created and managed online brand communities, customer insight/advisory panels, loyalty/rewards programs, social and mobile applications, digital promotions and much more. As a founding member of the Word of Mouth Marketing Association, the group is recognized as an industry pioneer and a leader within the industry’s ongoing efforts to evolve social media marketing practices and standards.

“Affinitive is a natural fit for Project in that we share the same belief about how brands must adapt to spark two-way dialogue and actively participate in customer-driven conversations,” said Robert G. Vallee Jr., Chairman & CEO of Project: WorldWide. “Brands today seek to engage through more meaningful stories and experiences, and Affinitive will help advance our mission to do just that.”

USA, Auburn Hills, MI & New York, NY

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Ogilvy & Mather to acquire a stake in Today Advertising in Myanmar

May 21, 2012 — Fusion DigiNet

Ogilvy & Mather, a wholly-owned subsidiary of WPP, is to acquire a stake in Today Advertising, an advertising agency in Myanmar.  Based in Yangon, Today Advertising employs 60 people.

This investment continues WPP’s strategy of developing its services in fast-growing and important markets and sectors and brings the total number of countries in which the Group operates to 108. WPP’s businesses in the Asia Pacific region now generate revenues of over US$4 billion (including associates) and employ approximately 42,000 people, contributing to Group revenues of over US$16 billion (including associates) and total employees of over 158,000.

UK, London & Myanmar, Yangon

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